Medical/Professional Space Near
For Sale
Contact for pricing
8290 NE University Ave, Fridley, MN
Medical/professional space near Mercy Hospital, opportunity to occupy entire building.
Property Size25,494 SF
Lot Size1.29 Acres
Price / SF$98.06
Days on Market788
Property Features for 8290 NE University Ave
General Information
Standard status
Active
Size
25,494 SF
Lot size
1.29 Acres
Property subtype
OFFICE
Listing Agency:
Davis Real Estate Services Group, LLC
(612) 338-4000
Listed By:
Anne Madyun
(612) 454-4172
Source:
Moodyscre
Added: Sep 1, 2024
Changed: Oct 25
Last Checked: Oct 26 at 7:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Davis Real Estate Services Group, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical/professional space offers the opportunity to occupy an entire building. The property is located near Mercy Hospital – Unity Campus. The first floor previously served as a surgery center. Ample surface parking is available, along with a 2-story parking ramp. The location provides easy access to and from University Avenue. Exterior and common area updates are planned. There is a premier monument and building signage opportunity on University Avenue. The property size is 25,494 square feet.
Key Highlights
- Opportunity to occupy entire medical/professional building.
- Ample parking with surface lot and 2‑story ramp.
- Premier signage opportunity on University Avenue.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$166,394
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,327,880
$3.3M
Cap Rate 7%
$2,377,057
$2.4M
Cap Rate 9%
$1,848,822
$1.8M
Market Conditions
NOI Build-Up for 25,494 SF
Gross rent
$299.8K $11.76/SF
− Vacancy
−$22.5K −$0.88/SF
EGI
$277.3K $10.88/SF
− OpEx
−$110.9K −$4.35/SF
NOI
$166.4K $6.53/SF
Area
Anoka County, MN
Vacancy
7.50%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,327,880
Cap Rate 7%
$2,377,057
Cap Rate 9%
$1,848,822
Alternative Uses
Best Use
Office B
$5.05M
$4.42M – $5.89M
NOI $353,641 @ 7.0% cap · market cap 14.15%
Second Best
Healthcare Medical
$2.38M
$2.08M – $2.77M
NOI $166,394 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$7.08M
$6.20M – $8.26M
NOI $495,701 @ 7.0% cap · market cap 19.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- All Pets Animal Hospital — 5100 Central Ave NE, Columbia Heights, MN 55421
- Fish Olivia DVM — 5100 NE Central Ave, Columbia Heights, MN 55421
- Vetco Total Care Animal Hospital — 753 53rd Ave NE, Fridley, MN 55421
- Petco Vaccination Clinic — 753 53rd Ave NE, Fridley, MN 55421
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/professional space near Mercy Hospital, opportunity to occupy entire building.
Where is this medical office space located?
The property is located at 8290 NE University Ave Fridley, MN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Opportunity to occupy entire medical/professional building.; Ample parking with surface lot and 2‑story ramp.; Premier signage opportunity on University Avenue.
